Olympic Steel logs record sales in 2d qtr.

Aug 07, 2014 | 05:54 PM | Nat Rudarakanchana

Tags  Olympic Steel, earnings report, service center, steel, aluminum, stainless, pipe and tube, Michael Siegal Richard Marabito

NEW YORK — Service center Olympic Steel Inc. saw record sales in the second quarter, with its highest sales volumes for flat products since early 2008.

Sales totaled more than $386 million in the three months ended June 30—the best quarter in the Cleveland-based company’s history—up 16.7 percent from the same period last year, helping to generate a 38.4-percent jump in net income to nearly $3.5 million, the company said in its earnings report Aug. 7. Olympic sells steel, aluminum, stainless and pipe and tube products.....

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